This paper offers a detailed examination of Nike's current strategic initiatives, both internal and external, aimed at addressing potential challenges and ensuring sustained market leadership in the dynamic sportswear industry. Internally, the company's commitment to innovation, effective marketing, and product differentiation reflects a proactive approach to maintaining competitiveness. Collaborative efforts with athletes and influencers contribute to increased brand awareness and market share. Additionally, Nike's research and development data guide the brand in understanding consumer preferences, reinforcing its market leadership. Externally, Nike adeptly navigates economic fluctuations, global competition, and technological changes through a diversified supply chain, strategic financial instruments, and an openness to technological advancements. The company's social responsibility objectives further bolster its brand reputation, mitigating potential threats from labor and environmental concerns. This paper suggests that Nike can enhance its risk management by prioritizing sustainable practices and ethical sourcing, aligning with the rising demand for environmentally conscious products. Strengthening collaborations with regulatory bodies, embracing emerging technologies, and closely monitoring consumer trends will be crucial for maintaining agility in adapting to market shifts and securing continued success and growth.